Certuity LLC Makes New $228,000 Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Certuity LLC purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,121 shares of the asset manager’s stock, valued at approximately $228,000.

Several other institutional investors also recently made changes to their positions in the stock. Penobscot Investment Management Company Inc. grew its position in T. Rowe Price Group by 6.7% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 4,909 shares of the asset manager’s stock valued at $529,000 after acquiring an additional 309 shares during the period. Van ECK Associates Corp increased its position in T. Rowe Price Group by 2.9% during the 4th quarter. Van ECK Associates Corp now owns 36,261 shares of the asset manager’s stock worth $3,905,000 after purchasing an additional 1,025 shares in the last quarter. Chase Investment Counsel Corp raised its holdings in T. Rowe Price Group by 42.9% in the fourth quarter. Chase Investment Counsel Corp now owns 10,000 shares of the asset manager’s stock valued at $1,076,000 after buying an additional 3,000 shares during the period. Choreo LLC raised its stake in shares of T. Rowe Price Group by 65.0% in the 4th quarter. Choreo LLC now owns 6,677 shares of the asset manager’s stock valued at $719,000 after acquiring an additional 2,631 shares during the period. Finally, Mather Group LLC. lifted its holdings in shares of T. Rowe Price Group by 8.4% during the 4th quarter. Mather Group LLC. now owns 124,395 shares of the asset manager’s stock valued at $13,396,000 after acquiring an additional 9,661 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Up 0.7 %

Shares of T. Rowe Price Group stock opened at $110.30 on Thursday. The business has a 50-day moving average price of $115.19 and a 200 day moving average price of $107.25. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The firm has a market cap of $24.63 billion, a P/E ratio of 13.10, a P/E/G ratio of 1.91 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the company posted $1.69 EPS. The business’s revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 8.67 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on TROW shares. Wells Fargo & Company raised their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their target price for the company from $92.00 to $114.00 in a research note on Monday, April 8th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $112.10.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,921 shares of company stock valued at $1,500,133. Company insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.